When you file your taxes does the amount you contributed to your 401k plan come off your gross amount for the year?

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1212307

2026-04-15 15:56

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Yes it does, your employer should have already subtracted this amount from your earnings, and specified it in a separate space on your w-2. Your gross earnings for the year should have already been reduced by the untaxable amount. You do not subtract it again.

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